Income Inequality Essay Example for Free

Income diversity EssayMinimum WageIncome divergence in America has become a big issue, nonpareil and only(a) that galore(postnominal) of us hear every day whether on the news or from our parents. But normally, we wear thint hear the actual phrase used. We hear things like the top two percent, or, the rich vs. the poor. So, what is income unlikeness? Income inequality is defined as the difference between individuals or populations in the distribution of their assets, wealth, or income.So, with that in mind, why would anyone be against raising a minimum wage? At first glance, the plan does come along to be an intelligent fix to a problem thats stayed dormant for quite a while. natural elevation the minimum wage drastically from where it was in 2009 to now would be a blunt and possibly incompetent way of continuing to attempt to give the poor a better way of life. There is one simple fact that many large number simply dont look at in that respect are more than one host of people working for minimum wage. There is a non-finite of people working for the federal 7.50, from teenagers on their first jobs to older people with second jobs. Jonathon Guryan, an economist at Northwestern University and a neutral observer of the wage debate, said that Its not helping as many or as large a portion of the labor market as you probably would like.This macrocosm said, the workers that will benefit from a minimum wage increase would be so diverse that the group of people we are aiming to help, the poor and desperate, wouldnt be getting all the help. Now, what of the small businesses and family companies that can simply handle the current minimum wage? Well, theyd be taking a hit as well as if a drastic increase such as this were to hit. Businesses that make less money than others in their kale per year are expected to have to cut down on their expenses and lay off their workforce in order to compensate for the loss of funds. So, while the minimum wage would benefit the people in the business lucky enough to not be laid off, those who were fired couldbe the very people we were attempting to help. Unfortunately, this could mean that a large part of the workforce that handles manual labor could be out of the job. different businesses would not even be that lucky.There are much better ways to fight income inequality than just simply raising the federal minimum wage. Its a very black and albumen argument for a topic that is not so black and white. To better improve our income equality, and therefore nurture people out of poverty, we could be putting more funding into things like education, food stamps and the Earned Income measure Credit (or the EITC), which is a refundable tax credit targeting people who make a low income. It would be a shame to not only miss a chance to reduce poverty now, but to blockade that well all be having this same conversation in a few years if we just promote the minimum wage. That being said, I dont belie ve the federal minimum wage should be raised to $10.00 per hour.